IRA Academy of Knowledge is a two-day conference made up of IRA Essentials and Advanced IRAs. This session gives attendees a solid foundation of both basic and advanced IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process IRA transactions with confidence.

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Course Overview

IRA Essentials
This session is meant for beginners or those needing a refresher. Those attending should bring a hand-held calculator.

Introduction and Establishing IRAs

  • Identify the tax differences of a Traditional and Roth IRA
  • Examine the process for establishing an IRA and the required documents
  • Differentiate between the types of beneficiaries

IRA Funding

  • Learn about the Traditional and Roth IRA eligibility requirements
  • Identify the contribution limit an deadline
  • Communicate contribution reporting deadlines

IRA Distributions

  • Identify federal income tax withholding requirements
  • Examine IRS penalties and penalty exceptions
  • Summarize the tax consequences of IRA distributions
  • Communicate distribution reporting deadlines

IRA Portability

  • Differentiate between a rollover and a transfer
  • Recognize rollovers between IRAs and employer-sponsored retirement plans

Who Should Attend
You should attend this seminar if you

  • need to learn the basics of Traditional and Roth IRAs or
  • want an updated, general refresher on IRA rules.



Advanced IRAs
Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

  • IRA Update
  • Explain recent changes affecting IRA Owners
  • Discuss the current Roth modified adjusted gross income (MAGI) limits
  • Recognize how recent changes may affect your financial organization

Required Minimum Distributions

  • Calculate a required minimum distribution (RMD)
  • Discuss the RMD rules and reporting requirements

Beneficiary Options

  • Describe beneficiary distribution options
  • Recognize the differences for spouse, nonspouse, and nonperson beneficiaries
  • Explain beneficiary payment deadlines

Advanced Portability

  • Summarize the restrictions on the movement between IRAs
  • Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
  • Explain the result of violating the portability restrictions

Roth IRA Conversion Contributions

  • Describe a conversion
  • Explain the effect of withholding on a conversion
  • Report a conversion
  • Define the consequences of an ineligible conversion

IRA Owner Tax Forms and You

  • Determine which tax forms an IRA owner must complete when certain IRA activity occurs
  • Understand which IRS penalty taxes may apply to IRA owners